COMPANY REGISTERED NUMBER: 03229725 (EnglwKI and Wale• CHARITY REGISTERED NUMBER: 1058283 THE HAVEN HOUSING TRUST REPORT OF THE DIRECTORS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
THE HAVEN HOUSING TRUST CONTENTS OF THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31ST MARCH 2024 Pag• Company Infornwdon Report of th• Dlr•ctorn and T190• Statsmorrt ol Truste. rnsponslbllftl•s lThl•p8nd•nl examlnafs rnwt 8tst•m•n¢ of financial actlvitl•s Balan¢0 8h8•t Not•s to thg Ilnanclal ststements
THE HAVEN HOUSING TRUST COMPANY INFORMATION FOR ThE YEAR ENDED 31ST IAARCH 2024 DIRECTORsffRUSTEES: M B Klrsd) GRfidd S Walker REGISTERED OFFICE: 31 Cedar Road Forost Fields Nottlngham NG7 6HZ REGISTERED NUMBER: 03229725 (ErYJl8nd and Wales) REGISTERED CHARrrY NUAIBER: 1058283 INDEPENDENT EXAMINER: Neil Harris FCA Bsc {Hon8) Cygnet Accounting Lynited 37 Rossell Drlve Stapleford Nottingham, NG9 7EG BANKERS: Virgn Money 11 Smithy R( Nottingham UK NG13EJ Page 1
THE HAVEN HOUStt4G TRUST
REPORT OF THE DIREcfoRS AND TRUSTEES
FOR THE YEAR ENDED 31ST IAARCH 2024
The Injstoos FYe88nt their annual rewt and finarKaal 81atoments for the year anded 31 March 2024.
The accA)unts have been prared in accordance wlth the aw)unting policies set out in nots 1 to the accou
and c4)ffpty wilh the requirements of the memorandum and 8rti¢les of associalion, the Companies Act 2006
and "Accountmg and Reporting by Charities: Statement of Recx)mmended Pradice applicable to charlties
prepathrvJ iheir acclnts In aCCrdanCe with the Financial Reporting Standard applkable in the UK and
Republic of Ireland (FRS 102)" (as amended for ac¢(MJnting periods commencing from 1 January 2016).
Since tho Charity qualffies as small under section 323, the Strat8ghc report required of nlurn and large
cafflpanies undor the GnIeS Act 20LN3 18 not fequred.
ObJxtlvK and •ctlvltles
The prlnclpal object of the charity is the relief of okler homeless and &kfef unsuitabty housed people (meaning
generally Ihose over 50 years okl) ¥vho are also disadvantaged by virtue of illness, dl8ablllty. poverty and
sup1 needs. and thereby unablè to access alternatfve accommodation. by the provision of Suprted
The trustees have (eferred to the guklance o)nt8ined in the Charlty CoMmisn'S goneral guidance on public
benefit when reviewing their aims and objectives and in plannlng their future activltles. In particular. the
conslder h(M p18nn8d acllv5ti88 11 <x)ntrbJte lo th• alms and objectives they hav8 set.
A¢hlev•m•nts and performanc•
During the year the ch8rlty has c4)ntinued lo work through yoce88 of sed
THE HAVEN HOUSING TRUST REPORT OF THE DIRECTORS AND TRUSTEES - contlnu FOR THE YEAR ENDED 31ST IIARCH 2024 Rocruilment and appolntmont of tru8te•s Exlsiing trustees ar#J management would consider recruiting new trustees where an interest has been shown. armd a pers has beo)me involved in Ihe chardy. This invOeMent could take a variety of forn. Ixrt not. genwaly, be (xmsiderl as 8 r(xrte to b)rne a trustee. Alternativdy. perhaps tbwe management, C£kIefed that addilK)n81 skbls were needed within the trustee bcxty. we myht 88ek out a pefS(x) wllh those sklls with a vitiw to becomir•J Involved *lth the charSty. A minimum of three trustees must be appointed with no maximum number. Tho TfttstO88' rept Was apwoved by Ihe 8oard of Truste8S. GR Tld Dlrectorrrrustee Date.. 17 June 2024 Date: 17 June 2024 The rN)tes form part of these financial statements Page 3
THE HAVEN HOUSING TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENOED 31ST MARCH 2024 The tnjstees, WIK) are also Ihe dlrectors of The Hn Houslng Trust for th8 purpose of company law. are responsible for weparing the Trustees, Report and Ihe financial statements in accordance wilh applicable law and United Klngdom Accounllng Standwts (UnTrted Kingdom Generally Accepted Ac4XKmting Praclirn). Company Law requlreg the trustees lo prepare finandal statements for each financial year which give a tnJ8 and fatr viow of the state of affair5 of the charity and of the incomtTrJ ro8ources and application of resources, irKludI the Irts and 6xwndStsJr8. the charttable company for that year. In these financial 8talements. the trustees are required to." . select suitable a¢¢TrI5rj pojlcles and Ihen apply them consistenttr, - obsefve the rnethod8 and pTirKipl88 In the Charities SOFiP; - make judgemwts wld estimates that are reasonable and prudentr, - stale vthelhef appllcabl8 UK A¢counllrvJ Standards have been fcAkyed. subjecl to any materfal departur88 dlsclosed arKI explained in the fmancial statements: and . kYepar8 the fThn(aal stat6rr¢nts th? &IrYa ¢(¢eM basls unless tt 65 inapprowiate to I66M0 that th8 tharity will conts'nue In operation. The trustees are tAsIble for keeplng adequate acccrtjntirg Tecords that disclose reasonalAe accura at any time the financial poSin of the charity and enable Ihem to ensure that the financial statements cOmY th the Companles Act 2006. They are also responsible for safeguarding the assets of the charity aThd hence for tsking roasonable sleps ts the wevention and deteclion of fraud oUr irregurities. Tho notes fomi part of these financial 61atThnts Page 4
THE HAVEN HOUSING TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31ST IAARCH 2024 I report to the trte08 on my examination of the financial 8tat8m8nts of The H8ven Houskng Trust (the charity) for the year ended 31 March 2024. R•spon8lbllltle8 and ba818 of r•port As the trustees of the charity (and also its directors for Ihe purposes of company law) you are responsible for the prepardtion of the financ6al 9thir1 In accordm with the requirements of tho Compani88 Acl 2006 (the 2006 Act>. Havi satisf*d myself Ihat the financial statements of the thafity aro not reqimred lo b8 audited under Part 16 of the 2006 Act and are efigible for Independent examination. I report in respeGt of my examination of the chariVs financral slalemenls carried out undef section 145 of the Charities Acl 2011 (th8 2011 Acl). In carrying out my exarnlnalfon I have followed all the 8ppIIc8bl8 Dlrecfjons glven by the Charlty CMIsSIOn urKl6r sectlon 145(5Xb) of the 2011 A Ind•p•nd•nt exwnln•rf8 Stat•m•nt I have ¢om&Aeled my examinatlon. I confirm thal no matters have comè to my aneMK)n In connection wilh the oxaminatsn glvlng me cause to belleve that in any rnaterial r88pect 1. accountiNJ rocAxds were not kept h) pect of the charlty as rewired by 386 of the 2006 fvrt" 2. the flnanclal ststements do not acc¢)rd wilh those recyJrds' or 3. the financial statements do not compty wlth the accounting rewirements of sectK)n 396 of Ihe 2(MJ6 Aci other than any requSremént that the ac(x)unts give 8 true arKI falr vlew whlth is rK)t a matter consldered as part of an indep6ndent examination; or 4. the finanoal ststements have not been prepared in accordance wllh th8 meth(th and principles of the Statement of Recommended Practlce for a¢Unting and reporting by charities applicable to charitfes preparirvJ their accx)unts in acCnCe with tha Flnanclal Repn9 Stsndard applicable in the UK and Republic of Ireland (FRS 102). I have no concem8 and hava come across no other mattors In connection wilh the examination to which attentlon should b8 drawn In tN8 report In onler to enable 8 proper understarKllng of the financial statements to be reached. Neil Harris FCA Bsc (Hs) Cygnel Accounting Limited 37 Rossell Drlv6 Staplefd Nottingham NG9 7EG The notes frym part of these financlal statements Page 5
THE HAVEN HOUSING TRUST STATEMENT OF FIIIANCIAL ACTivrriES (INCLUDING INCOME AND EXPENIXTURE ACCOUNT) FOR THE YEAR ENDED 31ST MARCH 2024 Total FurKIs 2023 Fund8 2024 Nol88 Inc¢)m• and Endowmènts fro DonalN)ns and legarxes Charitable actmties Other tradlng aclvvitss Other income 585 53.912 17,636 40 65.596 18,854 Total Income 17 ndltur• on: Chaiitable actfvllies Net incomel(expendlture) for the yearl Net movement in firKIs 353 Fund balanc88 at 1 Apdl 2023 Furrtl balarw at 31 March 2024 The statement of financial actlvltles Indude8 all gains arNJ106ses te(xJgnised in the year. Al Income and 8xpenditur8 defive from continulng actlwtles. Thè statement of finan(aal athities also complles with the requirements an income and expenditure arxwnt under the compan Act 2006. The notes form pgrt of these financial statements Page 6
THE HAVEN HOUSING TRUST BALANCE SHEET 31ST MARCH 2024 2023 Note8 Flx•d 888•ts T8NJlble assets 10 1135 2,847 Cuffeni assets Debtors C8sh al bank arKI in hand 11 611 13.025 13,229 Credltors: Amounts falling due wilhln one year 12 currttl14b11111Q1 Total assets h8s curr•nt Uabllftl 56.893 Incomè funds Unr8Strict8d furM18 56,893 Total Incom• fund8 The company is entitled to exempl#?n from audlt under Seclion 477 of the Companies Acl 2006 for Ihe year ended 31 sl Marth 2024. The directo a(knwW thetr rewinslNlll8s for comptying with reqiArements of the C¢mpw160s Act 2006 with re8pect to accountlng reccyds and the prep8rntk)n of financial statoments. mwnbers have required the c(janY to c4)18in an avdst of its financial Statements ts th8 year ended 31st March 2024 in accordare with SectM?n 476 of the Companl8s Act 2(XJ6. These financial statements have prepared in accordance the kYovi8ions 8pplicablo lo comp8rw88 subjecl to the small CpanI&S reglme. The finanGlal statements were approved by the Boerd of Truste85 17 June 2D24 arKI were sbned (n its behalf by: MBKI chz GRfidd Directortrru8tee Company r•glstratlon numb•r 03229725 Page 7
THE HAVEN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Ac¢ountlng polkh• Charfty Inforniallon The Haven Hwsing Trust 18 a wivate (x)mpany limited by guarantee Irted In England and Wales. The regtstered offi(x is 31 Cedar Road. Forest Fields. Nottingham, NG7 6HZ. The Mern olthe cx)mpany are trustees names on pap 1. In the event ofthe charity b&ino wouThl up, the Ilabilty in r8spect of the guarantee Is lknlted to £10 per M)er the chartty. Accountlng conveThtlon The accotsnls have been prepared in accordarKe wlth Companles Act 2(X)6 and "Ating and Reportlng by Charblles: Statement of Rernmended Practte appllcable to th8rlUes preparlng thelr accounts in accordance with the Financial Reporting StarKlard applicabla in the UK and Republic of Ireland (FRS 102). (as amended fof accounting pertods commencirvJ from 1 January 2016). The chity 18 a Public Benefit Entity a8 defined by FRS 102. The charty has taken athrfantage of the provlsions in the SORP for thartt9 apptylrvJ FRS 102 Update Bulletin 1 not to Prepa a Statement of Cash Flow5. The finarA31 slatements are prepared in ster1N. which is the fund6LThI currency of the tharity. M(ThtWy 8mounts In It58 financial statements are rourKl8d to tha n88rnSt £. The accwnts have b6en ppared under the historlcal cost ¢ven1Th. The wirKipal 8cc¢)unllrwJ polici88 adopted are set out bth. Golng concern At the time of approving the financial statements, the truslees have a reasonable expectatSon Ihat th• ¢harity ha8 &Jequate re80urce8 to continuè in (rational extstence for the fore8ee8ble fulure. Induded wtthin other<xeditors are amounts due of£70,000 and Ihe Twstees have received c0nfimwn that repayment is at the d18(Trtion of the Trlee$ of Hav Houslng. Tlws the trustees ¢on11nue to adopt the going concem b8 ol accwntirwJ preparing ts finandal statements. Charttabl• funds UnrestrKted fund8 are avallable for us• at Ihe discxelion of the trustees kn furtherance of thelr charilaNe Designated funds COM unreSIrt8d funds that ha been set aslde by the truslees for particwlar puws. The aim and use of each designated furKI 18 set out In the notes to the finala1 statements. Restrkled funds are subject to Speclfic conditions by donors as to hchv thty may be d. The purpo888 and uses of the StrIcted funds are set out in the notes to the financl81 ststements. Income Income 18 recognised vthen the charity ts legally entitled to il after any p8rformanc ¢XXK1itNS havo been mo( Iha amounts can measured reliably. and it is probab that income will be recoived. Cash donations are recognlsed on receipt. Other donallons are recogn15ed once the charity has been nollfied of the donation. unless perfomiance c(¥)ditAons require deferral of the amount. Income tax recover8tAa in relation to donatio re¢er4ed under Gift Aid or deeds of covenant is re¢gnised at th¢ tAne of the donation. Gifts In kind donated for dlstrlbulSon are indUdl at valualTh and recognised as incoma when they are distribuied to thè projects. Gifts donated for resale are induded as income when they are sold. Donated facilities are included at the valuo to the charity where this can be quantif*d and a third paty is bearln9 the cosL No amounts are included in the financial staternents for sepiices donated by volunteers. Page 8
THE HAVEN HOUSING TRUST NOTE8 TO THE FINANCIAL 8TATEMEKf8 FOR THE YEAR ENDED 31ST MARCH 2024 Accountlng polkh8 {contlnu•d) Exp•ndltw• Expenditure is rw150d once Ih6ro is 816gal or cmslructlve thi98t to transfer economk benefft to 8 third paty. it is wobable that a transfer of ecijnomlc befitS will be required in setllemenL and the amount of ihe obligation can be msu reliably. Expendltur8 Is dasslfied by acUvty. The costs of each actlvlty mad& up of Ihe totsl of dlrect costs arKI shared costs, includirvJ supwrt Costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directty to that activty. Shared ¢osis which contribute to more than on6 aclivity and support Costs whkh are not attrIttable lo a singl6 actwity are apportK)ned between those actMtle8 on a basis ¢SIStent rfth the use of resources. CenlTal staff cx)sts are allocated on the bas of th'me sp( aTKI d8predatM charges afe alboc8ted on Ihe portion of the a8Befs u8e. All axp8nditure is accujnted for on an acwal$ basls and has been cla881rd under head1$ that aggregale costs related lo lh8 calegory. Where costs cannot by directy attributed to parts"cular hJirvJs they have been allocated to ectivlttas on a basis cxjnslslent wlth use of the resources. Fund.ralskng c08ts are th08e Th%fred n seeking voluntary ContribulK>r and not Includ• the costs of dlsseminating information in support of the Charitable athiti88. Support costs are costs incurred diredy supp(xt of expendlture on the objects of the charlty and Include project management C8frled out at headquarters. Management and administration costs are those incurred In nneCtIon with the adrnin1str8ti( of the charity and )MplIanC0 wlth conststuticyol and staiutory requirements. Tanglbh fixed assets TarvJible fixed assets are initiaty measurod at (x)st arKI subsequenty measured at cost or valuation, net of deweciation and any knpalrmenl losses, Depreclatim is r8cogni8ad $0 88 to lIe off the cost or VUati of assets less their residual vahJos over their useful Irrfes on the following bases: Fumiture Computer eqUIpff Motor vahides EquipTrt 50% strdight line 25% straight line 25% reduc4ng b8lance 15% stralghi lin8 The gakn or loss arfs1 the disposal of an 858el is dotennlned 88 the dilterence between the sale procthJ8 and the rarrying value of tho a( and18 recognlsod In the statement of financial acliviti88. Cuh •rKI Guh oqulval•nl8 Cash and CBsh equivalents include cash n hand, d6po81ts h81d at call wilh banks. other strb)rt-tem Ilquld investments wlth original maturities of three M(th3 or le88. and bank ov8rdraft8. Bank overdrats are Shown within borrowings in current liabililies. 8ask Ilnanclal ossets Basic financial assets. which Include debtc$ and (sh and bank balances. are iniiiaHy measured at transaction price inthdin9 transaction costs and are subsequenuy carried at amortised cost using tt 6ffectivo interest rrthc*J unless th8 arrangement constitutes a financi tran&xtion. where the transadk)n Is measured al the wesent value of the future rec61pts dlscounted at a markel rate of kn186L Financial assets dasslfied as receNaile wilhln ¢Jne year are not aTlised. 8ask Iln•n¢lal Ilabllloes Basic finan(xal assets. induding cre¢fitors and bank k)ans. we initially measured at transactton price unless the arrangement constitutes a financing transactSM, where the debt instrument is measured 8t Ihe present walue of the fulure payments (Jiscounted at a market rdte of interesL Financaal liabilitKgS dassified as payable within one year are nol amortised. Page 9
THE HAVEN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST IAARCH 2024 Ac¢ountSng policles (¢onllnued) Trade credIt(S are oblgations to pay for goods or sefvtts that have been acqvlred in the cdinary C4xsrse of operations from suppliers. Amounts payable are dassifd as lnI liabilities rf payment is due within one year or less. If no( they are presented as norHxJrrent Ilabililies. Trade creditors are r8cognised initially at transaclk)n prlce and subseqnIty measured at amor cost usirvJ the effethe terest melhod received. Employ0• benofits Th8 Cost of any unused holld8y entiuement 18 recogni88d in the Peri1 in whith the emFAoye6'8 seNke8 are received. Temination beneffts are recognised immedialely as an expense when the charity is enn8trabIY commitiad to tem)inate the employment of an employee or to provide lermination benefiis. Rentsls payable under operallng leases. Induding any lease Incent1 recelved. are tharg8d to kn(xxne a straight line basis over the term of the relavant lease. Donatlons •nd l•gacie8 2024 2023 Donatk)ns arKI giftg 585 All don8tion$ and18gaci88 Income for bolh years were from unrestriiAed funds. Charftabl• acllvltle$ 2024 2023 ChgrttatAe rental and housing benefft n)me 65,596 53,912 All charitable actsvibes in1x for both y8ar& were from unrestrlcled funds. Othor tradlng aciivltl•8 2024 2023 erchaNllslng Income 17,636 All olher trading acllv6J68 income tr both years were from unrnstrbcted funds. 2024 2023 Bank incentives All other Income for both years were from unr88tricted furKI& Pago 10
THE HAVEN HOU81NG TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST IAARCH 2024 Charltabh actMtI•8 Runnlng Govemance Totsl 2024 Total 2023 aff ¢)Jsts Depreciation 8fMJ impairlrent Repairs and property (naintenarKo Rent Rales Telephone Heat and light Insufance Advertising Motor arKI travelllNd Sundry expenses AcCnIAl¥j Charg 25,555 712 19,863 12.000 25,555 712 19.863 12,000 18.970 949 10,489 12.000 6,106 2,147 9,350 979 579 13.210 979 159 4.261 141 13.210 979 159 4261 141 7,127 208 460 All exdIlure on charitsble aciiviiies was unrtricted fu$. None of the ljustees (or any persons comected with them) received any remuneration or bernfits from the thwity dufNW lh8 year. The trustees wore not reimbursed fLY exS duriThJ the year. EMplM•nt costs 2024 2023 Wages and salaries 18.970 average ff#)nthly number of employee8 during the year was 88 follow8: 2024 2023 There were r¥) employees whose annual remuner8tlon was morn than £60,(M)O. T•xatSon The ftharlty is ex8mpt from tax on Inrne and gatns tslllng within sectlon 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Galns Act 1992 trj ts extenl that these we applied to 6t8 charitable obJ"acts. Page 11
THE HAVEN HOUSING TRUST NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AIARCH 2024 10. Tanglbh fix•d assets Fumi1U Molor equipmenl veknides Total Cost At 1st 2023 Additions DIsp08als 12.IXKI 15,620 At 31st March 2024 12,000 620 O•pfodatlon At 18t Awil 2023 Charge for ye Eliminated on dlspos 3,620 9.153 712 12,773 712 At 31st March 2024 3.620 9.865 Ngt book valu• At 31st Marth 2024 At 31st Mar¢h 2023 2.847 11. Debtors: amounts falllng due wlthin one yoar 2024 2023 212 212 Prepayments and aetsu in(x)m8 611 12. Crgdltor8: amounts falllng due withln one year 2024 2023 70.000 Accruals and deferred income 70,0(M) 72.969 Page 12
THE HAVEN HOUSING TRUST NOTES TO THE FIIIANCIAL STATEPAIENTS FOR THE YEAR ENDED 31ST MARCH 2024 1& Analysls of n•t 48•0ts Ixlw••n fund• UMwbld•d Unr8StrkXed 2024 2023 Fund balances at 31 Marth 2024 are rnpr858rrted by: TafKJible assets Current assew{lialltle5) 1135 2.847 (56,893 14. Op•ratlng ha8• commltsn•nt8 At the repn9 end dale the charity had outslarKlirvJ (y)mmitrnents for fure l&ase payments under non-cancellab19 operating leases, wluch fall du& as folbws. 2024 2023 Within one ye Between Iw) and fve yB8r5 11000 12,000 Ch) 18t April 2022. The Haven Hou8kng Trust ont•red Into a new leaso. paylng an 8nnu818um of £12.000 for 5 yaars. 15. R•lal•d party tran8athns There w8r8 d*dosable related party transactw durtro the year (2023: none). R•muner4don of koy manag•ment person11 Thè reAnUneralK of key management personnel whth comwises the is £nil (2023: £nil). Page 13